2024-05-26 07:23:55 ET
Summary
- Washington Trust is struggling and has not yet recovered from the banking crisis of early 2023.
- The bank has a good track record of dividend issuance, but future dividend cuts cannot be ruled out.
- Declining profitability and limited operations are contributing to the bank's difficulties, and its capital ratios are among the lowest in the sector.
The banking sector has recovered overall after the early 2023 meltdown, but there are still some banks in clear trouble. Washington Trust ( WASH ) is certainly among them; in fact, the stock is far from SVB's pre-bankruptcy levels....
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Washington Trust Bancorp: 8.54% Dividend Yield, Is It A Trap?